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Mike buys a stock with varying expected annual dividend payments. During the first 5 years the expected dividend is constant and equal to 2 0
Mike buys a stock with varying expected annual dividend payments. During the first years the expected dividend is constant and equal to Beginning in year the dividends start to increase. For year and all future years, the current year's dividend is larger than the pervious year's dividend. At a market discount rate of what is the stock price
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